House prices return to figures last seen in 2006

The value of property in England and Wales has returned to levels last seen in the summer of 2006, according to figures released by the Land Registry. House prices rose by 0.1% in June, taking the average cost up to £166,072.

This figure is 8.4% more than seen this time last year, as the market experiences the eighth consecutive monthly rise in year-on-year prices. All regions are said to have witnessed average prices rise in the year leading up to June
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The largest rise has been seen in London, reaching 12.2%, with the North East the lowest at a 0.7% rise.

Statistics released by the HM Revenue and Customs has reported that the number of homes sold in the UK rose to 86,000 in June from May, a 21% increase. This is the highest figure seen this year and is 15% higher than June 2009.

Source: BBC News

Disclaimer
These particulars are intended only as general guidance. The Company therefore gives notice that none of the material issued or visual depictions of any kind made on behalf of the Company can be relied upon as accurately describing any of the Specified Matters prescribed by any Order made under the Property Misdescriptions Act 1991. Nor do they constitute a contract, part of a contract or a warranty. *Estimated rental yield figures are calculated using information supplied by the marketing agent and are based on the original market price. The rental yield figure should only be used as a guide and we strongly recommend you seek independent financial advice before proceeding with any investment